Executive Summary
- Year-to-date closed sales in Greater Phoenix rose 3.8% through October 2025, significantly outpacing the 1.5% increase seen nationally for the same month year-over-year.
- The median home price in Phoenix increased 0.4% to $480,000, while the national median remained flat. The local housing affordability index also improved.
- Housing inventory in the metropolitan area climbed 19.2% to a 4.4-month supply, and the average number of days on the market grew from 64 to 74.
- Performance varied across the valley, with Goodyear showing a 27.2% surge in closed sales, while cities like Scottsdale saw strong price growth.
The Phoenix metropolitan area housing market demonstrated notable resilience and growth through the first ten months of 2025, outpacing national trends in key metrics such as closed sales, new listings, and price stability. According to the latest data from Phoenix REALTORS®, the region saw increases across several indicators, signaling continued strength despite a shifting national landscape.
Year-to-date data for Greater Phoenix shows a 3.8% increase in closed sales compared to the same period in 2024. This contrasts sharply with the national market, where closed sales rose by only 1.5% in October year-over-year. New listings in Phoenix climbed 8%, while nationally they decreased by 0.8%. Similarly, pending sales in Phoenix were up 0.5%, compared to a significant 27.1% drop nationwide.
“Year-to-date closed sales, pending sales, new listings and median sales price all increased,” said Christy Walker, board president of Phoenix REALTORS. “These data are indicators of the strength in the Phoenix market.”
Home equity in the region also saw gains, with the median sales price for a single-family home increasing 0.4% to $480,000, matching the national median which remained flat. Alongside this price growth, the housing affordability index improved from 69 to 71, indicating that a larger percentage of households could afford the median-priced home compared to the previous year. “Homeowners are seeing values rise, increasing their personal equity. At the same time, rising incomes mean more households can buy that median home compared to last year,” Walker added.
Market dynamics show an increase in supply, with the inventory of homes for sale climbing 19.2% to a 4.4-month supply. The average time a home spent on the market also rose, increasing from 64 to 74 days.
Market Variations Across Key Cities
Phoenix: The City of Phoenix reported a 3.8-month supply of inventory. Closed sales saw a modest 1.8% increase, while new listings grew by 5.4%. The median home price held steady at $485,000, though days on the market increased by 20% to 66 days.
Scottsdale: Sellers in Scottsdale experienced a 3.5% rise in the median home price to $1.18 million. New listings were up 4.2%, and closed sales increased by 5.7%, with inventory reaching a 4.8-month supply.
Mesa: The median sales price in Mesa was nearly flat, down 0.2% to $490,000. While closed sales rose 0.9%, the average days on the market saw a significant 28.3% increase to 68 days.
Gilbert: This southeast Valley town showed mixed results. Closed sales were up 8.2% and new listings rose 11.4%. However, the median sales price dipped slightly by 1.7% to $595,000, and days on the market increased by 25.5%.
Goodyear: The West Valley city continued to show strong activity, with closed sales climbing 27.2% and pending sales jumping 24.4%. Despite a slight 1.2% drop in the median sale price to $475,000, it bucked the regional trend with a small decline in its supply of inventory.
Peoria & Surprise: Both cities reported increased sales and new listings. Peoria’s closed sales rose 5.6%, while Surprise saw a 6.1% increase. Both also experienced slight declines in their median home prices and an increase in days on the market.
Overall, the Phoenix real estate market presents a complex but largely positive picture. While sellers may face longer listing periods, the consistent rise in sales activity and general price stability highlights the region’s robust demand compared to the broader U.S. market.
